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Promotion: Transition to IFRS as a New Stage of Development, Confirmation of Leadership and Operational Transparency
Promotion (“PROMOTION OUTSOURCING” LLC ) is beginning the transformation of its financial reporting in accordance with the International Financial Reporting Standards (IFRS).
Based on the results of operations in 2024 and 2025, the company became the first in the outstaffing, recruiting, and consulting industry in Ukraine to achieve indicators that require a transition to global standards of transparency.
What are the IFRS Criteria and Why Does Promotion Meet Them?
According to the legislation, the mandatory transition to IFRS applies to public interest entities or large companies. To be considered a “large enterprise” in Ukraine, a company must meet at least two of the three criteria for two consecutive years:
- Value of assets: over 20 million EUR
- Net sales revenue: over 40 million EUR (actual result for 2025 – 47,983,925.00 EUR, 2024 – 42,083,983.00 EUR)
- Average number of employees: over 250 employees (actual result for 2025 – 2,398 employees, 2024 – 1,828 employees)
The achievement of these markers (exceeding net sales revenue and average number of employees) in 2024-2025 confirms the scale of Promotion’s activities and its leadership in the HR services market in Ukraine.
Why Is This Important?
The transition to IFRS is not just a change in the format of tables in accounting. It is a strategic step that brings direct benefits both to the company and to clients and suppliers:
- For Promotion: This is a “green light” for entering international markets and simplifying world-class audits. This is a confirmation of our maturity and financial stability.
- For clients in Ukraine and abroad: cooperation with a partner whose reporting is understandable in London, New York, or Warsaw. IFRS minimizes risks and guarantees full financial transparency – this is the confidence that the HR provider operates in accordance with the highest global rules and meets the strictest legal requirements.
- For partners: The unification of reporting facilitates cooperation in joint international projects and strengthens the trust of banking and financial institutions.
“The transformation to IFRS is our manifesto of openness. We prove that the Ukrainian service business can be large-scale, transparent, and understandable for the whole world.”
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